A temporary increase in deal flow, leading some industry experts to foresee the re-emergence of merger arbitrage, has tailed off in the past two to three months, according to strategy managers.
The dearth of deals has left a strategy many thought would revive in 2004 more likely to disappoint investors, according to Reza Hadizad, manager of Pioneer Alternative Investment's Pioneer Global Equity Arbitrage fund.
He says there are many reasons for the new slump including the Brent Crude price,
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